A Standard Keynesian model [8 points] Consider the following model for the macroeconomy. Consumption Function: C = a + b∙Y Import Function: IM = k + m∙Y Export Function: EX = k* + m*∙Y* where a, b, k, m, k*, m* are positive parameters; and G, I, G*, I*, Y* are exogenous variables. (a) Derive the goods-market equilibrium expression for GDP ( Y ) if the economy is closed (EX = IM = 0). What is the fiscal multiplier, ΔY/ ΔG? (b) Derive the equilibrium equation for Y if the economy is open. What is the multiplier now? (c) Derive the equilibrium equation for the trade balance (TB = EX – IM). What is the effect of fiscal policy on TB, ΔTB/ ΔG? g

1. which of the following is true about how your skill set relates to a future career? (1 point) employers like to hire people with only full-time job experience. employers consider subject-specific skills for new positions. skills learned in high school should not be included. skills from part-time jobs and volunteer work may prove beneficial in future jobs. 2. which of the following is a list of broad categories of skills? (1 point) creativity, art and communications, tools and trade, literacy and language, and interpersonal skills english and literacy, tools and trade, mathematics, and creativity interpersonal skills, intrapersonal skills, writing and literacy, tools and trade, and creativity mathematics and data, words and literacy, tools and tasks, interpersonal relationships, and creativity